ParimalDevnath

ParimalDevnath

Nifty in consolidation mode. 5th wave equal to I wave on day chart might have been completed. So if this count is correct, a-b-c correction/consolidation is possible which will complete wave II. Undertone remains bullish. On Friday bulls have created fresh long position on 11200, 11300 and 11400 Put strikes by writing Puts. Highest OI remains intact at 11000 Put...

ParimalDevnath

A breakout stock, pull back in place. If available in the range of 1330 buy with an SL keeping a target above 1380 and second target can be at 1400.

ParimalDevnath

Strong bullish structure of the chart. Trend has changed at 445 on breakout where 50,100,200 DMAs gave upward crossing. I am covering this stock consistently. A Negative Divergence is visible. So small correction is likely but not certain. Highest OI position is built at 1350 Call strike. Sooner or later bulls will take price beyond this level with ease.

ParimalDevnath

5th wave running. Stock is in strong bullish mode targeting 322. Bears holding onto 320 Call with highest OI. There is a negative divergence in view but it is yet to trigger. In strong trending chart divergences may result in consolidation or minor correction. Last candle has been quite bullish. It seems that price is heading for 360-- previous swing top. From...

ParimalDevnath

A Contracting Triangle is appearing on the chart. CTs are difficult to trade since direction is uncertain. Trend remains up though.

ParimalDevnath

Today bulls could not hold gains. Could not maintain above 5 DMA. Bears gained some control by increasing position of 11500 Call. Bulls have been unwinding Put positions. This indicates to some weakness. INR going below 70 against USD is not a good thing. Though Crude is below 200 DMA, INR is bothersome. It seems Nifty will go below 15 DMA. We have to wait for...

ParimalDevnath Updated 

Nifty: bulls returned with a big bang on Tuesday after taking support of 15 DMA on Monday. Nifty on Tuesday raised its head a ted above 5 DMA (possible return of momentum with bullish inclination). International issues may weigh down on Indian market as the same has an impact on S&P and Asian markets. OI Table: On Tuesday bulls increased their position on 11400...

ParimalDevnath

After 3 days of correction, bullish momentum seems to have returned since price could successfully close above 5 DMA and also above Pitchfork resistance. If these two levels are maintained, bulls can push RIL towards 1240 where bears have created some resistance by writing Calls -- second highest OI. Highest OI of Put stands firm at 1100 which lends immense...

ParimalDevnath

After a steep rise, consolidation is normal. Price is stuck at the higher level of 206-7. There is high possibility of breakout off the top of this consolidation which can lead the price towards previous high-- 222-25. This positive view finds support from OI table. Any downside will meet with strong buying till 195 is held. SL please.

ParimalDevnath

Covered this stock stating that 5th wave is approaching. Now 5th wave might be in place. Now two scenarios arise. There is an Ascending Triangle being formed and breakout seems to be in place too. If this study is correct, price can leap up towards 320. Secondly, a Negative Divergence is also developing which is yet to trigger. OI Table suggests that 310 is the...

ParimalDevnath

The duo from Bajaj stable. Both are consolidating in rectangular range post strong upsurge. Price of both at breakout point. BajajFinSv has resistance at 70200--highest Call OI, whereas BajajFinance has strong resistance at 3000 --highest Call OI. Keep SL please.

ParimalDevnath

Below 9DMA price took support at 15 DMA. A cut of 73 points. 11500 has been proved as the recent top and this will play a crucial role in coming days to decide the long term direction of Nifty. As per OI Table downside is limited. Bulls are guarding the levels of 11000 (highest Put OI) and 11200 Put OI. If Nifty has to change the trend to bearish, it has to meet...

ParimalDevnath

ITC shot up quite fast and completed the 3rd wave up and now consolidating -- typical 4th wave-- in a narrow range with bullish undertone. Immediate resistance comes at 310 and 320 reaching which 5th wave up will be completed. Then there can be consolidation due to Negative Divergence to be developed. This may be a high probability trade setup. SL is essential.

ParimalDevnath

Technically price has broken out of the resistance (previous high) and also it has surpassed the OI resistance 1400 which has the highest Call OI position built by the bears. On fundamental count, price has shot up due to severe decline of INR against USD. Now holding above 1400, next technical resistance at 1420. If INR declines below 70 against USD, price of...

ParimalDevnath

Nice party was spoilt due to bad Q1 result. Technically 320 Call has the highest OI. So this is the strong resistance. This is also the Pitchfork resistance. And 300 is the good support since bulls have heavily written Puts at this strike and also at 290. Pitchfork Median lies at 295. So 295 to 300 should play as support. No recommendation till some pattern emerges.

ParimalDevnath

Powerful Bulls were unable to push Nifty across the resistance created by the timid bears at 11500 Call strike. Price returned from 11495 on Thursday. 11500 is the resistance line Pitchfork. OI Table: On Friday bears increased their position at 11500 Call strike (total 433800 shares added). What did the bulls do on Friday? OI Table gives clarity. They booked...

ParimalDevnath

We have to wait till there is a breakout of the Regular Flag.

ParimalDevnath

A hammer candle is in the view indicating indecision at resistance zone of Pitchfork. What is noteworthy in the OI Table is that bulls today have built huge position at 11400 Put strike (total 703200 shares added) and bulls are guarding firmly the wall of strong support at 11000 Put -- the highest OI. Bulls are not much tired. Yet some consolidation is possible....